FGV hoping to complete Trurich Resources sale by end-September

FGV Holdings Bhd is hoping to complete the sale of its plantation assets in Indonesia, under Trurich Resources Sdn Bhd , by the end of September, group CEO Haris Fadzilah Hassan said today.

Haris Fadzilah said Trurich Resources, a 50:50 joint-venture company with Lembaga Tabung Haji, is valued at RM1 billion, including debt. “There are seven interested players and we are in talks with all of them at the moment,” he told reporters after announcing the company’s first quarter financial results here today.Haris Fadzilah said of the seven interested parties, three have shown their interest to buy both north and central Kalimantan estates, while the other four players eyed only one of them.

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FGV to focus more on downstream activities due to weak CPO pricesThe company recorded a profit before interest and tax of RM78 million in the first quarter of the year, a 19% decline compared with the previous corresponding period.
Source: fmtoday - 🏆 5. / 72 Read more »